o_1937aahn31ruc1bt9ajr12u811a.pdf

(e)
(f)
(g)
(h)
(i)
insurance costs paid by the vendor under paragraph (d) must be
refunded by the purchaser on demand without affecting the vendor’s
other rights under this contract;
the purchaser must maintain and operate the property in good repair
(fair wear and tear excepted) and keep the property safe, lawful,
structurally sound, weatherproof and free from contaminations and
dangerous substances;
the property must not be altered in any way without the written consent
of the vendor which must not be unreasonably refused or delayed;
the purchaser must observe all obligations that affect owners or
occupiers of land;
the vendor and/or other person authorised by the vendor may enter the
property at any reasonable time to inspect it on giving 7 days written
notice, but not more than twice in a year.
24. Loss or damage before settlement
24.1 The vendor carries the risk of loss or damage to the property until settlement.
24.2 The vendor must deliver the property to the purchaser at settlement in the
same condition it was in on the day of sale, except for fair wear and tear.
24.3 The purchaser must not delay settlement because one or more of the goods is
not in the condition required by general condition 24.2, but may claim
compensation from the vendor after settlement.
24.4 The purchaser may nominate an amount not exceeding $5,000 to be held by a
stakeholder to be appointed by the parties if the property is not in the condition
required by general condition 24.2 at settlement.
24.5 The nominated amount may be deducted from the amount due to the
vendor at settlement and paid to the stakeholder, but only if the purchaser
also pays an amount equal to the nominated amount to the stakeholder.
24.6 The stakeholder must pay the amounts referred to in general condition 24.5 in
accordance with the determination of the dispute, including any order for
payment of the costs of the resolution of the dispute.
25. Breach
A party who breaches this contract must pay to the other party on demand:
(a) compensation for any reasonably foreseeable loss to the other party resulting
from the breach; and
(b) any interest due under this contract as a result of the breach.
DEFAULT
26. Interest
Interest at a rate of 2% per annum plus the rate for the time being fixed by section 2
of the Penalty Interest Rates Act 1983 is payable on any money owing under the
contract during the period of default, without affecting any other rights of the
offended party.
27. Default notice
27.1 A party is not entitled to exercise any rights arising from the other party’s
default, other than the right to receive interest and the right to sue for money
owing, until the other party is given and fails to comply with a written default
notice.
27.2 The default notice must:
(a) specify the particulars of the default; and
(b) state that it is the offended party’s intention to exercise the rights
arising from the default unless, within 14 days of service of the notice-
(i) the default is remedied;
and
(ii) the reasonable costs incurred as a result of the default and any
interest payable are paid.
2140857_001.docx